Adidas Will Lose $650 Million After They Dropped Kanye's Yeezy Products

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Germany's largest apparel and footwear company Adidas's Shares fell sharply on Tuesday after They decided to cut all ties with Rapper Ye.

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The company reported that they lost about $247 million this year due to declining sales of Yeezy Products.

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Despite all this, The company has decided to reduce its margins from 7% to 4%, due to which there was such a big fall in their shares.

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Aneesha Sherman has confirmed in her statement that Adidas will completely cease production of Yeezy products, which account for a significant share of Adidas sales.

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Bernstein analyst Aneesha Sherman predicted that Adidas would cut its revenue by about $398 Million following the ban on Yeezy products.

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So Adidas would lose a total of about $645 million due to the severance of all ties with Ye.

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Of this, $247 million will be lost Adidas due to the discontinuation of Yeezy Products's sale.

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And according to the prediction of Aneesha Sherman, Adidas will suffer a loss of about $398 million in 2023.

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Adidas's Shares fell 5.6% to $97.96 as the company decided to decline Yeezy Products over 15% in the past 5 days.

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